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Born between the years 1981 to 1997, ultra-wealthy individuals of Chinese origin claimed nine out of the 10 spots in a new ranking of Asia’s wealthiest Millennials.
The real estate sector featured high on the list compiled by Wealth-X, with 34-year-old Yang Huiyan, vice chairman of Country Garden Holdings, in first place, with an estimated net worth of US$ 6.1 billion.
“Yang reportedly received her father’s stake in the company in 2005, making her the wealthiest woman in China at that time,” stated the report.
She was followed by 34-year-old Hong Konger, Cheng Chi Kong (Adrian Cheng), the scion of New World Development Group, in second place, with $4.4 billion.
He joined the family business in 2006, but is also an avid art collector and supporter of Chinese artists.
“In 2010, Cheng launched a non-profit “artist village”, an 11-studio workshop space in Wuhan, China, to incubate emerging artists,” stated the report.
The next five spots were taken up by Fuli Zong (Kelly Zong), He Zhitao, Lin Qi, Ou Chen (Leo Chen), and Yan Wu, respectively, all of whom are of Chinese origin.
In eighth position was the sole Indian representative, John Paul Joy Alukkas, executive director of Joyalukkas group and son of its chairman Joy Alukkas, with a fortune pegged at $820 million.
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Among the ten spots up for grabs, three were occupied by women, whose combined net worth was estimated at nearly $10 billion, accounting for 44% of the total combined wealth of the entire list.
Another interesting finding was that seven of the ten Asian Millennials on the list inherited their wealth, while three made their own fortunes.
Below is the full list of Asia’s top 10 richest millennials, per the country of origin, sector, and source of wealth:
1. Yang Huiyan, China, real estate, inheritance
2. Cheng Chi Kong (Adrian Cheng), Hong Kong, real estate, inheritance
3. Fuli Zong (Kelly Zong), China, beverage production, inheritance
4. He Zhitao, China, IT products and services, self-made
5. Lin Qi, China, web and mobile games, self-made
6. Ou Chen (Leo Chen), China, e-commerce, self-made
7. Yan Wu, China, IT services, inheritance
8. John Paul Joy Alukkas, India, jewellery business, inheritance
9. Zhang Kangli, China, real estate, inheritance
10. Zhu Yufeng, Hong Kong, green energy, inheritance
Image: Second-ranked Cheng Chi Kong (Adrian Cheng) – By Adrian Cheng (Own work) [CC BY-SA 4.0 (http://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons